Hyundai Motor India shares open on exchanges with a market capitalization of over Rs 1.59 lakh crore and become India’s fifth most valuable automaker in India.
Hyundai Motor India made its stock market debut on Tuesday (October 22) and slipped almost 6 percent during the day’s trade.
However, after listing, its market capitalization exceeded Rs 1.59 lakh crore, making it India’s fifth most valuable automaker.
Hyundai India’s shares were listed at Rs 1,931 per share on the BSE, a decline of 1.47 percent from the issue price.
The stock later recovered and hit a high of Rs 1,968.80, up 0.44 percent. However, the counter failed to sustain the momentum and tanked 6.12 percent to Rs 1,840 apiece on the BSE.
The shares of Hyundai Motor India debuted on the NSE at Rs 1,934, down 1.32 percent. The automobile company’s shares later slid 6 percent during the trading hours to Rs 1,842.
Hyundai Motor India’s valuation on the NSE stood at Rs 1,50,303.85 crore around 2:20 PM, compared to Rs 1,52,290.52 crore during the morning trade, a decline of 1986.67 crore in market cap.
Although it had a dull beginning, Hyundai Motor India’s equity eventually became one of the 60 largest-valued firms in India.
